strong buy
Experts Predict Beginning of Altcoin Season Amid Growing Market Indicators
According to Santiment analysts, the altcoin season has begun. Altcoins have already gained momentum and are expected to continue rising as long as Bitcoin stays above $110,000. Over the past week, many altcoins have outperformed Bitcoin in terms of growth.
Key indicators include large wallets holding over 10,000 ETH controlling 75.7% of all Ethereum—this is at its highest since 2017. The number of addresses holding over 1 million XRP has reached a record high of 2,743. Meme coins have surged 17% over the past week, possibly signaling a speculative phase.
However, caution is advised. The BTC MVRV ratio has exceeded May peaks, which previously led to corrections. Sentiment around ETH is overly optimistic. The leadership of meme coins might indicate the final stage of a rally.
The Altcoin Season Index from CoinMarketCap stands at 27, with Bitcoin dominance at 62.5%. Experts believe that a true altcoin rally will begin if this dominance drops to 45%.
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AI Analysis
The current market environment indicates a burgeoning altcoin season, driven by notable accumulation among large holders and increased activity in meme coins. The concentration of over 10,000 ETH in l...
AI Recommendation
Investors should consider increasing their exposure to altcoins if Bitcoin dominance begins to decline towards 45%, as this could signal the start of a sustainable altcoin rally. Caution is advised, h...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.